Overview
What is Pawtucket Business Development Corp?
Pawtucket Business Development Corp, located at 137 Roosevelt Avenue, Pawtucket, Rhode Island, is a nonprofit organization dedicated to stimulating economic growth in the area. They accomplish this by providing gap financing, a type of loan specifically designed for commercial projects, to businesses. This financing mechanism allows these companies to create and maintain low to moderate-income jobs within the community. The Corporation's mission is to foster economic development in Pawtucket, thereby contributing to employment creation and retention.
Official website here: www.pawtucketri.com/boards-commissions
Is Pawtucket Business Development Corp legitimate?
Pawtucket Business Development Corp is a legitimate nonprofit organization registered as a 501(c)(3) entity. Pawtucket Business Development Corp submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
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Official website here: www.pawtucketri.com/boards-commissions
What is the mission statement of Pawtucket Business Development Corp?
The Pawtucket Business Development Corp's mission is centered around fostering economic growth. They achieve this by providing gap loan financing, serving as a catalyst for employment creation and retention within their operations. By offering these loans, the corporation plays a vital role in promoting business expansion and sustenance, ultimately contributing to the overall economic well-being of the community. As of June 30, 2022, their strategic loan initiatives have enabled 42 borrowers to create low to moderate employment opportunities.
Official website here: www.pawtucketri.com/boards-commissions
Who is the CEO of Pawtucket Business Development Corp?
Jan Brodie is the Director of Pawtucket Business Development Corp.
Official website here: www.pawtucketri.com/boards-commissions
What is the revenue of Pawtucket Business Development Corp?
Pawtucket Business Development Corp's revenue in 2022 was $21,191.
Official website here: www.pawtucketri.com/boards-commissions
Who are the executives of Pawtucket Business Development Corp and what are their salaries?
Here are 18 key members and their salaries:
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Official website here: www.pawtucketri.com/boards-commissions
Where can I find the form 990 for Pawtucket Business Development Corp?
Pawtucket Business Development Corp's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.pawtucketri.com/boards-commissions
Learn more at the official website: www.pawtucketri.com/boards-commissions
Mission Statement of Pawtucket Business Development Corp
Pawtucket Business Development Corp, as a nonprofit organization, is dedicated to fostering economic growth in its community. It achieves this mission by providing gap loan financing. This strategic financing mechanism is designed to promote employment creation and retention. By offering these loans, the Corporation plays a crucial role in supporting local businesses, enabling them to grow and create low to moderate-income job opportunities. As of June 30, 2022, the Corporation had successfully managed 42 such loans, contributing to the economic vitality of the community.
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Impact
August, 2024
Pawtucket Business Development Corp's impact can be seen in its efforts to foster economic growth in Pawtucket through gap loan financing. By providing this financial support, the corporation has enabled businesses to create low to moderate jobs, contributing to employment creation and retention in the city. As of June 30, 2022, the Corporation managed 42 commercial "gap financing" loans, showcasing its tangible impact on the local economy and community improvement.
This information is meant to be a general summary of Pawtucket Business Development Corp. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: $189
- Program Service Revenue: $21,002
- Gross Receipts: $21,191
Assets and Liabilities:
- Total Assets: $639,946
- Total Liabilities: $9,570
- Net Assets: $630,376
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
COMMERCIAL LOAN INTERE
Revenue
$21,002
Organization Details
Principal Officer
Jan Brodie
Main Address
137 Roosevelt Avenue, Pawtucket, RI, 028604132
NTEE Category
Code: S43 - Community improvement
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